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Haw Par posts 27% rise in 1Q earnings to $17.1 mil

PC Lee Published on Wed, May 11, 2016 / 5:41 PM GMT+8

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SINGAPORE (May 11): Tiger Balm ointment maker Haw Par Corp posted a 26.8% rise in 1Q earnings to $17.1 million from a year ago. This came on the back of a 14.9% rise in revenue to $52.3 million and a more than tripling of other income to $4.8 million.

Healthcare revenue increased 17.8% to $45.5 million compared to 1Q15 due to continued growth in sales from key markets. Leisure reported a 9.6% decrease in revenue due to lower yield from the mix of visitors. Property’s revenue increased 4.9% to $4.1 million.

Other income increased 277.2% to $4.8 million due to gain on disposal of certain available-for-sale financial assets, higher dividend income and interest income.